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Bulls have taken the markets by storm today, with the global market cap sitting 6.7% above its previous 24-hour mark, as the total cap stands at $1.73T as of press time. The fear and greed index is 74, as greed dominates again.
Bitcoin Price Analysis
Bitcoin (BTC) has led by example, as the Bitcoin price stood at $46.7K as of press time after recording a daily increase of 6.2% to bring the weekly rise to 2.9%. As a result of the Bitcoin price, the token’s trade volume jumped by 71% during the same period and is presently at $41.1B.
Despite today’s rise, there’s still some uncertainty on the Bitcoin price short-term trajectory as bulls and bears struggle for dominance. The Relative Strength Index indicator is headed south, suggesting bear pressure on the Bitcoin price, while the MACD indicates moves in the green zone, suggesting bull action.
Ethereum Price Analysis
Ethereum (ETH) is also part of today’s bullish wave, as the Ethereum price stood at $2303 as of press time after recording a daily increase of 3.3%, bringing the weekly drop to 3.8%. As a result of the Ethereum price, the token’s trade volume jumped by 44% during the same period and is presently at $12.7B.
The short-term trajectory for the Ethereum price is also uncertain as bulls and bears struggle for dominance. The Relative Strength Index indicator is headed south, suggesting bear action on the Ethereum price. The MACD indicator is reverting towards the green zone, showing bullish prospects on the Ethereum price.
Solana Price Analysis
Solana (SOL) is among today’s top gainers, as the Solana price stood at $102.5 as of press time after recording a daily increase of 13.2% to bring the weekly drop to 10%. As a result of the Solana price, the token’s trade volume jumped by 42% during the same period and is presently at $4.1B.
Several indicators point out that the short-term trajectory for the Solana price looks bullish. The Relative Strength Index indicator is headed north, towards the overbought region, suggesting buying pressure on Solana. The MACD indicator reverts towards the green zone, building bullish momentum on the Solana price.
Avalanche Price Analysis
Avalanche (AVAX) is another top gainer today, as the Avalanche price stood at $37.6 as of press time after recording a daily increase of 12.3% to bring the weekly drop to 13.6%. As a result of the Avalanche price, the token’s trade volume jumped by 36% during the same period and is presently at $1B.
As several indicators point out, the short-term trajectory for the Avalanche price looks bullish. The Relative Strength Index indicator is headed north, approaching a cross-over above 50, suggesting buying pressure on Avalanche. The MACD indicator is reverting towards the green zone, building bullish momentum on the Avalanche price.
Internet Computer Price Analysis
Internet Computer (ICP) is our last top gainer of the day, as the Internet Computer price stood at $13.5 as of press time after recording a daily increase of 20.7% as it also traded 0.2% above its previous 7-day price. The token’s trade volume jumped by 137% during the same period and is presently at $438M.
The short-term trajectory for the ICP price could be bearish as indicators point to looming corrections. The Relative Strength Index indicator is headed south, suggesting bear action on the ICP price, while the MACD also maintains movement in the red zone, showing bearish prospects on the ICP price as well.
